The National Bank reconsidered its forecast, lowering the rate

NBU, the National Bank of Ukraine, changed its forecast of the country’s GDP growth rate in 2016.

“The real GDP growth rate is expected at the level of 1.1 percent”, reads the message of the bank’s press service.

The National Bank keeps its forecast regarding consumer inflation at the elevation of 12 percent by the end of this year. The index of 7 percent is expected by the end of 2017.

“The forecasts consist with the goals claimed by the National bank regarding the inflation – in the medium term. There are many fundamental factors that could cut down the inflation rate in the future: less active restoration of economic activity, slower growth of the global economy, lower prices at the world’s raw materials market, and the recently implemented limitations in trade with Russia”, the bank’s press service said.